ReShape Lifesciences (NASDAQ:RSLS) Stock Passes Above Two Hundred Day Moving Average of $0.20

ReShape Lifesciences Inc. (NASDAQ:RSLS) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.20 and traded as high as $0.28. ReShape Lifesciences shares last traded at $0.20, with a volume of 11,459,438 shares.

ReShape Lifesciences Trading Down 4.1 %

The company has a fifty day moving average price of $0.19 and a 200-day moving average price of $0.20.

ReShape Lifesciences (NASDAQ:RSLS) last released its quarterly earnings results on Wednesday, May 15th. The medical device company reported ($0.09) earnings per share for the quarter. ReShape Lifesciences had a negative net margin of 130.99% and a negative return on equity of 207.78%. The company had revenue of $1.94 million for the quarter.

Institutional Trading of ReShape Lifesciences

A hedge fund recently bought a new stake in ReShape Lifesciences stock. Armistice Capital LLC purchased a new stake in shares of ReShape Lifesciences Inc. (NASDAQ:RSLS) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 188,000 shares of the medical device company’s stock, valued at approximately $64,000. Armistice Capital LLC owned 5.45% of ReShape Lifesciences as of its most recent filing with the SEC. Institutional investors and hedge funds own 22.06% of the company’s stock.

About ReShape Lifesciences

ReShape Lifesciences Inc provides products and services that manages and treat obesity and metabolic diseases in the United States, Australia, Europe, and internationally. The company's product portfolio includes Lap-Band System, a minimally invasive long-term treatment of severe obesity and more invasive surgical stapling procedures, such as the gastric bypass or sleeve gastrectomy; Lap-Band 2.0 System, an adjustable postoperatively to increase or decrease the pressure to the band in order to optimize an individual's comfort and therapy effectiveness; and ReShape Calibration Tubes, that fits the lesser curvature of the stomach to reach the pylorus.